North America Specialty Oilfield Chemicals Market, By Type (Biocides, Inhibitors, Viscosifiers, Demulsifiers, Surfactants, Acids, Friction Reducers, Iron Control Agents, Polymers, Wetting Agents, Dispersants, Additives, Retarders, Defoamers, Emulsifiers, Others), Application (Drilling, Production, Stimulation, Cementing, Enhanced Oil Recovery (EOR), Workover & Completion, Others), Country (U.S., Canada, Mexico)-Industry Trends and Forecast to 2028
Market Analysis and Insights : North America Specialty Oilfield Chemicals Market
The specialty oilfield chemicals market is expected to witness market growth at a rate of 4.8% in the forecast period of 2021 to 2028 and is further estimated to reach USD 1,120.4 million by 2028. Data Bridge Market Research report on specialty oilfield chemicals market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the demand for the product for various industrial applications is escalating the growth of specialty oilfield chemicals market.
Specialty oilfield chemicals is known to be generally utilized in the recovery of oil and proficiently decreasing the environmental effect in the oil extraction procedure. The extraction process mainly includes production, drilling, stimulation, and enhanced oil recovery, among other specialty chemicals utilized in each of these step of process.
Major factors that are expected to boost the growth of the specialty oilfield chemicals market in the forecast period due to the rise in the crude oil production around the world. Furthermore, the growing application in drilling fluid activities, production chemicals, and workover & completion is further anticipated to propel the growth of the specialty oilfield chemicals market. Moreover, the increase in the demand from enhanced oil recovery application and the utilization of the chemical in industrial and institutional cleaning chemicals, specialty advanced polymers, pesticides, and construction chemicals among several others is further estimated to cushion the growth of the specialty oilfield chemicals market. On the other hand, the growing cost and the disposal procedures for chemicals after use, and declining crude oil prices is further projected to impede the growth of the specialty oilfield chemicals market in the timeline period.
In addition, the rise in the aging oil reservoirs, and discoveries of new oilfields will further provide potential opportunities for the growth of the specialty oilfield chemicals market in the coming years. However, the strict regulations against chemicals potentially harmful for the environment might further challenge the growth of the specialty oilfield chemicals market in the near future.
This specialty oilfield chemicals market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, the impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on the specialty oilfield chemicals market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you take an informed market decision to achieve market growth.
North America Specialty Oilfield Chemicals Market Scope and Market Size
The specialty oilfield chemicals market is segmented on the basis of type, and application. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the specialty oilfield chemicals market is segmented into biocides, inhibitors, viscosifiers, demulsifiers, surfactants, acids, friction reducers, iron control agents, polymers, wetting agents, dispersants, additives, retarders, deformers, emulsifiers and others.
- On the basis of application, the specialty oilfield chemicals market is segmented into drilling, production, stimulation, cementing, enhanced oil recovery (EOR), workover & completion and others.
Specialty Oilfield Chemicals Market Country Level Analysis
The specialty oilfield chemicals market is analyzed, and market size, volume information is provided by country, type, and application as referenced above.
The countries covered in the specialty oilfield chemicals market report are the U.S., Canada and Mexico in North America.
Unites States dominates the specialty oilfield chemicals market due to the rise in the consumption of chemicals used for various operations. Furthermore, the swift exploitation of shale oil and gas reserves and the growing oil & gas production activates and usage of oilfield chemicals, chiefly as specialty surfactants in fracking and drilling will further boost the growth of the specialty oilfield chemicals market during the forecast period.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points such as consumption volumes, production sites, and volumes, import-export analysis, price trend analysis, cost of raw materials, downstream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Specialty Oilfield Chemicals Market Share Analysis
The specialty oilfield chemicals market competitive landscape provides details by a competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to the specialty oilfield chemicals market.
The major players covered in the specialty oilfield chemicals market report are BASF SE, Baker Hughes, a GE company LLC, Croda International Plc, Schlumberger Limited, Huntsman International LLC, Ecolab, Solvay, ELEMENTIS PLC, Evonik Industries AG, Halliburton, Stepan Company, CPS Performance Materials, Ashland, Innospec, Roemex Limited, Clariant, Kemira, KRATON CORPORATION, Chevron Corporation and Thermax Global among other. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.